Material event due to five consecutive fiscal years of operating losses and three consecutive fiscal years of negative operating cash flow
First written in FY2020. 3 of 13 entries say "Worsened", first in FY2021-Q1. Latest entry: FY2024.
Cox moved to the "Worse" side of this theme in 2020, 3 years before the typical company in this theme (2023).
The whole theme swung hardest in 2025: 26 of 48 companies on the "Worse" side.
21 other companies' latest entry also says "Dropped".
- FY2024DroppedAnnual report
「Cash generated by operating activities amounted to ¥1,221 million, compared with ¥1,207 million in inflows in the previous period.」
Both operating profit and operating cash flow were positive in the current fiscal year, and the significant event relating to the going-concern assumption previously disclosed is not identified in this filing. - FY2023MitigatedAnnual report
「Consolidated results for the current fiscal year were net sales of ¥14.859 billion, up 111.9% year on year, operating income of ¥427 million, compared with an operating loss of ¥872 million in the previous corresponding period, and ordinary income of ¥421 million, compared with an ordinary loss of ¥832 million in the previous corresponding period.」
Compared with the continuing operating losses and operating cash flow deficits recorded previously, the Company posted an operating profit of ¥427 million and cash flow from operating activities of ¥1,207 million in the current period. This filing does not explicitly state that the significant event relating to the going-concern assumption has been resolved. - FY2023-Q3Material events continued despite achieving operating profitability in the third quarterAnnual report
「Our group recorded operating losses for 7 consecutive periods through the previous consolidated fiscal year, and events or conditions that raise substantial doubt about the going concern assumption exist at this time. However, as cash at the end of the current third quarter cumulative consolidated period, comprising total cash and deposits, stood at ¥2.759 billion, we determined that the Company was in a position to sufficiently fund working capital and investment requirements for the foreseeable future and that no material uncertainty related to the going concern assumption was identified.」
Although the cumulative third quarter recorded operating income of ¥511 million, the Company explained that the material events based on 7 consecutive periods of operating losses continued. The cash balance was ¥2.759 billion, and the Company stated that no material uncertainty was identified. - FY2023-Q2Material events continued despite achieving operating profitability in the first halfAnnual report
「Our group recorded operating losses for 7 consecutive periods through the previous consolidated fiscal year. Although we recorded operating income of ¥337 million during the current second quarter cumulative consolidated period, the outlook remains uncertain, including concerns about a resurgence of COVID-19 infections.」
Although the first half recorded operating income of ¥337 million, conditions raising substantial doubt about the going concern assumption continued because of 7 consecutive periods of operating losses and concerns about a resurgence of infections. - FY2023-Q1Material events continued despite achieving operating profitabilityAnnual report
「Our group recorded operating losses for 7 consecutive periods through the previous consolidated fiscal year. Although we recorded operating income of ¥312 million during the current first quarter cumulative consolidated period, uncertainty about the outlook continues, including concerns about a resurgence of COVID-19 infections.」
Although the first quarter was profitable at the operating level, conditions raising substantial doubt about the going concern assumption continued because of 7 consecutive periods of operating losses in prior years and the uncertain outlook. - FY2022WorsenedAnnual report
「Although operating cash flow turned positive in the previous fiscal year, it turned negative in the current fiscal year, and the Company has recorded operating losses for 7 consecutive periods. Events or conditions that raise substantial doubt about the going concern assumption therefore exist at this time.」
The consecutive operating losses increased from 6 periods to 7, while operating cash flow also shifted from positive in the previous fiscal year to negative ¥2.530 billion. The material events have worsened. - FY2022-Q3RestatedAnnual report
「Although operating cash flow turned positive in the previous consolidated fiscal year, our group has recorded operating losses for 6 consecutive periods, and continued to record an operating loss of ¥802 million during the current third quarter cumulative consolidated period.」
Although operating cash flow turned positive in the previous fiscal year, conditions raising substantial doubt about the going concern assumption continued because of 6 consecutive periods of operating losses and an operating loss of ¥802 million in the current third quarter cumulative period. - FY2022-Q2RestatedAnnual report
「Although operating cash flow turned positive in the previous consolidated fiscal year, our group has recorded operating losses for 6 consecutive periods. During the current second quarter cumulative consolidated period, operating revenue declined due to store closures, shortened operating hours and requests to refrain from going out associated with repeated declarations of a state of emergency amid the rapid spread of COVID-19, and we continued to record an operating loss of ¥955 million.」
Although operating cash flow turned positive in the previous consolidated fiscal year, the material events continued because of 6 consecutive periods of operating losses and an operating loss of ¥955 million in the first half of the current fiscal year. - FY2022-Q1WorsenedAnnual report
「Our group recorded operating losses for 6 consecutive periods through the previous consolidated fiscal year, and events or conditions that raise substantial doubt about the going concern assumption exist. However, as cash at the end of the current fiscal year, comprising total cash and deposits, stood at ¥4.769 billion, we determined that the Company was in a position to sufficiently fund working capital and investment requirements for the foreseeable future and that no material uncertainty related to the going concern assumption was identified.」
The consecutive operating losses increased from the previous 5 periods to 6, and the material events continued. Meanwhile, the Company explained that no material uncertainty related to the going concern assumption was identified based on its cash balance of ¥4.769 billion. - FY2021-Q3Material events continued despite achieving operating profitability in the third quarterAnnual report
「Our group recorded operating losses for 5 consecutive periods through the previous consolidated fiscal year, and operating cash flow has been negative for 3 consecutive periods. Although we recorded operating income of ¥24 million during the current third quarter cumulative consolidated period, the outlook for future performance remains uncertain as the impact of COVID-19 has been prolonged.」
Although the cumulative third quarter recorded operating income of ¥24 million, conditions raising substantial doubt about the going concern assumption continued because of the consecutive operating losses and negative operating cash flow in prior years and uncertainty resulting from the prolonged pandemic. - FY2021-Q2RestatedAnnual report
「Our group recorded operating losses for 5 consecutive periods through the previous consolidated fiscal year, and operating cash flow has been negative for 3 consecutive periods. During the current second quarter cumulative consolidated period, we continued to record an operating loss of ¥329 million, affected by the decline in operating revenue caused by store closures and shortened operating hours following the declaration of a state of emergency related to COVID-19 during the first quarter.」
The Company reconfirmed the material events represented by 5 consecutive periods of operating losses and 3 consecutive periods of negative operating cash flow, and recorded an operating loss of ¥329 million for the second quarter cumulative period. - FY2021-Q1WorsenedAnnual report
「Our group recorded operating losses for 5 consecutive periods through the previous consolidated fiscal year, and operating cash flow has been negative for 3 consecutive periods. During the current first quarter cumulative consolidated period, operating revenue fell to 57.9% of the previous year due to store closures and shortened operating hours resulting from the state of emergency issued by the government in response to the spread of COVID-19, and we recorded an operating loss of ¥638 million.」
Amid 5 consecutive periods of operating losses and 3 consecutive periods of negative operating cash flow, the impact of COVID-19 caused operating revenue to fall to 57.9% of the previous year, resulting in a quarterly operating loss of ¥638 million. - FY2020MaterialisedAnnual report
「As our group has recorded operating losses for 5 consecutive periods and operating cash flow has been negative for 3 consecutive periods, material events or conditions that raise substantial doubt about the going concern assumption exist at this time.」
The Company explicitly disclosed for the first time the existence of material events or conditions related to the going concern assumption, citing 5 consecutive periods of operating losses and 3 consecutive periods of negative operating cash flow. Meanwhile, it explained that no material uncertainty was identified based on cash balances, overdraft facilities and other factors.